Effective April 5th, 2010, the Federal Government passed new legislature that is tied to the stimulus package regarding mortgage loan modifications and short sales HAMP and HAFA.
The Legislation is designed to help homeowners who are struggling with their monthly mortgage payments OR homeowners with no equity or funds who have to sell.
A life preserver is being offered!
Most of the “big banks” are part of this legislation and are now required to do TWO things.
ONE, they must consider a homeowner’s request for a loan modification QUICKER than before. What this means to you is a far shorter response time (usually 10 days) so you’ll know sooner if you qualify or not.
TWO, homeowners are granted a monetary incentive for “short selling” their home (this means the home sells for less than what is owed on your mortgage). While some restrictions do apply, MOST owners/sellers receive a reward of up to $3,000.00.
If you are turned down for a loan modification, we at Signature Realty are having extraordinary success selling short sale homes. Please consider this option, as it not only costs sellers nothing, but in fact they may be financially rewarded.
We are so excited to announce that we’re now able to assist homeowners with loan modifications for FREE. We do not charge for this service, nor will our partner company 123 Short Sales LLC.
NO ONE should have to pay to receive help with their loan modification or short sale!